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Record Number of Renters Struggle With Affordability

Appraisal Buzz

This trend represents a sharp rise from 2001, when 41% of renters were cost-burdened. million since 2001. In 2023, 70% of renters earning between $30,000 and $44,999 were burdened, up 15 percentage points from 2001. percentage points since 2001. percentage point increase from pre-pandemic levels.

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Pending home sales jumped in September behind lower mortgage rates

Housing Wire

An index reading of 100 equates to sales activity in 2001. “A According to data released Wednesday by the National Association of Realtors (NAR), pending home sales in September jumped 7.4% compared to August and 2.6% year over year. NAR’s index reading of 75.8 is the highest number since March.

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RedKey Realty Leaders merges with RE Source, launches commercial division

Housing Wire

RedKey Realty Leaders has announced a merger with RE Source LLC , a boutique commercial brokerage founded in 2001. The partnership, finalized on July 5, marks the official launch of RedKey’s commercial real estate division and adds a new office location in St.

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Pending home sales limped to the end of 2024

Housing Wire

An index reading of 100 is equal to the level of contract signings in 2001. Compared to a month prior, contract signings fell 5.5% in December, with the Pending Home Sales Index coming in at a reading of 74.4. Annually, pending home sales were down 5.0% compared to a year prior in December.

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Here’s why we won’t build millions of new homes

Housing Wire

When it comes down to it, the supply and demand model works and new home sales currently today are still below levels we saw during the tech recession in 2001. It doesn’t seem like we will build millions more homes like everyone had hoped. On a positive note, builder confidence improved when mortgage rates fell from 7.5%

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Home equity cushions homeowners against economic shocks

Housing Wire

What is often overlooked in housing economics is that the percentage of down payments decreased from 2001 to 2008, meaning American households were putting less money down for their home purchases. From 2008 to 2012, it increased to around 85% and remained at this level for several years. Currently, we are at 47%.

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Jump in pending home sales foreshadows positive end to the market in 2024

Housing Wire

The PHSI is benchmarked at 100 in 2001. The latest signal comes from the National Association of Realtors ‘ (NAR) Pending Home Sales Index (PHSI), which shows sales in October growing 5.4% year over year and 2% compared to September. reading for the PHSI is the highest mark since March and the third highest dating back to December 2023.

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